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Derivative Financial Instruments (Tables)
9 Months Ended
Oct. 01, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Pre-Tax Changes in Fair Value The following table summarizes pre-tax changes in the fair values of the Company’s commodity derivative instruments and the classification of such changes in the condensed consolidated statements of operations:
Third QuarterFirst Nine Months
(in thousands)2021202020212020
Cost of sales$3,794 $1,194 $6,210 $924 
Selling, delivery and administrative expenses426 575 1,491 (949)
Total gain (loss)$4,220 $1,769 $7,701 $(25)
Summary of Fair Values and Classification in Condensed Consolidated Balance Sheets of Derivative Instruments The following table summarizes the fair values of the Company’s commodity derivative instruments and the classification of such instruments in the condensed consolidated balance sheets:
(in thousands)October 1, 2021December 31, 2020
Prepaid expenses and other current assets$8,807 $2,417 
Other assets1,367 56 
Total assets$10,174 $2,473 
Summary of Gross Derivative Assets and Gross Commodity Derivative Assets and Liabilities in Condensed Consolidated Balance Sheets
The following table summarizes the Company’s gross commodity derivative instrument assets and gross commodity derivative instrument liabilities in the condensed consolidated balance sheets:

(in thousands)October 1, 2021December 31, 2020
Gross commodity derivative instrument assets$10,643 $2,473 
Gross commodity derivative instrument liabilities469 — 
Summary of Outstanding Commodity Derivative Instruments
The following table summarizes the Company’s outstanding commodity derivative instruments:

(in thousands)October 1, 2021December 31, 2020
Notional amount of outstanding commodity derivative instruments$65,541 $23,030 
Latest maturity date of outstanding commodity derivative instrumentsDecember 2022December 2021